Morocco trade deficit widens 13.1 pct in first five months - agency

19 June, 2017

City panorama. Casablanca, Morocco.

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RABAT, June 19 (Reuters) - Morocco's trade deficit widened 13.1 percent to 78.45 billion dirham ($8.03 billion) in the first five months of 2017 compared with a year earlier, driven by increased imports, the foreign exchange regulator said on Monday.

The trade gap was up from 69.45 billion dirhams during the same period last year, as energy imports rose 42.7 percent to 28.25 billion dirhams, and spending on equipment imports rose 8.1 percent to 50.61 billion dirhams.

Total exports rose 5.3 percent from a year earlier to 103.31 billion dirhams, pushed by a 7.9 percent rise in phosphate exports totaling 17.41 billion dirhams.